Gold prices surge in local market

The price of gold has surged once again in Bangladesh, with an increase of Tk 2,613 per bhori.

The Bangladesh Jewellers Association (Bajus) has set the new price for 22-carat gold at Tk 153,475 per bhori, with effect from Monday, reports UNB.

In a statement issued on Sunday, Bajus said the gold prices have been revised in line with global market fluctuations.

According to the notification, the sale price of gold must include a mandatory 5 per cent VAT set by the government, along with a minimum 6 per cent labour charge determined by BAJUS.

But the final price may vary depending on the design and quality of the jewellery.

Earlier, on March 8, Bajus had adjusted gold prices downward, reducing the rate by Tk 1,038 per bhori. At that time, the price of 22-carat gold was fixed at Tk 150,862 per bhori.

With this latest revision, the price of gold has been adjusted 14 times so far this year.

Of these adjustments, prices have been increased 10 times, while they have been reduced four times.

Despite the gold price hike, the price of silver in the local market remains unchanged. Currently, 22-carat silver is being sold at Tk 2,578 per bhori in Bangladesh.